Two nightlife sites in London's Soho area could be turned into a new combined restaurant and nightclub site by entrepreneur Mark Fuller.

The Soho sites are Madame Jo Jo's nightclub and the Raymond Revue Bar strip club and Piano Bar, although they are one of three venues that Fuller is currently investigating the financial feasibility of while each site is also expected to have very competitive bidding for the leases from other interested parties.

Fuller's previous sites in the capital include Sugar Reef and Red Cube, which he opened in 1999 and 2000 respectively before selling in 2001. He has since opened The Embassy restaurant and members lounge with co-proprietor Garry Hollihead, which is based in Mayfair.

The deal would centre around buying three leases - for the Revue Bar, the Piano Bar and Madame Jo Jo's but would also mean still paying ground rent to Paul Raymond, who owns the freehold of all three sites. As Fuller explained, the annual costs alone would be considerable: "It would cost around £275,000 for the Revue Bar site alone plus around £180,000 for the Piano Bar and Jo Jo's."

However, were the deal for the sites to go ahead in Fuller's favour, it would be further complicated due to Westminster council often being extremely tough on late-night and west end entertainment licences.

Fuller said: "If the deal should or would go ahead, we'd combine the Revue Bar and Piano Bar with Madame Jo Jo's. If we hooked them up to a multi-floored operation, we'd aim to have four or five completely different areas. But a huge question mark over the financial viability remains."

He continued: "The expansion of the Embassy group is underway but, having owned Sugar Reef with the cover of 1000 people and now The Embassy that holds 400 people, my modus operandi has neve been pure club, so if we were to do something on the site, it would be a food-led club."

"Currently, the Revue is licensed for 235 people although if we removed the stage, it would be nearer 400 capacity. It's a quintessentially British site that was started by a dear friend of mine Paul Raymond but, as it is at the moment, it neither fits in the future nor have enough of the past to have the legs."

The three-year exclusion deal that Fuller signed when he sold Sugar Reef and Red Cube in 2001 comes to an end next year, which is some indication of when a possible deal could be finalised. He will also shortly be opening The Radcliffe in Hampshire, which has been described as a site in the style of Soho House.